Banco de la Produccion S.A. Produbanco SWIFT/BIC code

What PRODECEQ means for a payment to Banco de la Produccion S.A. Produbanco

The short code PRODECEQ and the 11-character code PRODECEQXXX refer to one and the same institution: Banco de la Produccion S.A. Produbanco. Every bank on the SWIFT network uses these codes to route international transfers to the correct bank. You will need it mostly when dealing with transfers between countries and payments in foreign currencies.

On this page you can read what the code is put together, when you need it and what else a transfer to or from Banco de la Produccion S.A. Produbanco requires. A SWIFT code names a bank or branch, never a specific account, which is why you always need the account number too.

Transfer times and tracking a payment to Banco de la Produccion S.A. Produbanco

A SWIFT payment typically needs anywhere from one to several business days. Payments made after the cut-off time or on weekends and holidays usually go out a business day later. Occasionally a bank asks what the payment is for, which can hold things up.

When a payment takes longer than expected, ask the sending bank for the status; with that reference banks can see where the payment is. Keep the payment confirmation until the recipient confirms – you will need it for any trace request.

If a payment has not arrived within the expected time, the sender needs to start with their own bank rather than Banco de la Produccion S.A. Produbanco. Request from the sender a copy of the payment confirmation including the reference; that often settles the question quickly.

Incoming international payments to Banco de la Produccion S.A. Produbanco

To receive an international payment at Banco de la Produccion S.A. Produbanco, the person paying you has to have not just the SWIFT code. Share your name as the bank knows it, the IBAN or account number, the BIC PRODECEQXXX and your address.

Their bank might also ask for the address of your bank, in which case the Quito head office is the usual answer. Check every detail before you send them, because the sender’s bank usually copies them as is.

What lands in your account can be less than the amount sent. Intermediary banks may deduct a fee, Banco de la Produccion S.A. Produbanco may charge for incoming payments, and when currencies differ, a markup on the rate comes on top. Agree with the sender who pays which costs.

International transfers from Banco de la Produccion S.A. Produbanco: the real cost

When you transfer money abroad via Banco de la Produccion S.A. Produbanco, the visible fee is only part of what you pay. You pay the transfer fee, sometimes fees charged by intermediary banks in between and, most importantly, the exchange rate markup if the currency changes.

Banks rarely list the margin on the rate as a cost – you only notice it if you compare. Compare their rate against the mid-market rate – the rate you find on financial news sites. The difference is your real conversion cost.

Specialist money transfer services frequently use rates closer to the mid-market rate and lower fees. On GoldexPay you can compare what recipients receive with different services, which makes the cheapest option easy to spot. You can still use your account at Banco de la Produccion S.A. Produbanco.

What the XXX in PRODECEQXXX means

The structure of a BIC is always the same: a bank code of four letters, a two-letter country code and two for the location. That gives you PRODECEQ.

XXX at the end of PRODECEQXXX does not stand for a missing value or a mistake: it indicates the head office of Banco de la Produccion S.A. Produbanco. Some banking apps ask for 11 characters, in which case you can add XXX behind PRODECEQ.

Type the code as one block, in upper case and without spaces. Pasting the code is safer than typing it by hand: a typo can point to another bank.

The US Dollar and what conversion costs you

Most accounts at Banco de la Produccion S.A. Produbanco are typically held in USD, the local currency of Ecuador. A payment in a foreign currency will be converted into USD – and the bank that does it picks the rate. Every conversion costs the amount, even when no fee is shown.

Which bank converts the money makes a difference, because each party uses its own rate. Transferring the amount already in USD usually avoids an extra conversion.

Exchange rates change all the time – some services let you fix a rate in advance. If you pay regularly, small differences in the rate add up over a year.

A note on our data

The codes here come from public sources that we update regularly. It is possible that a code here is out of date after a merger or reorganisation. Figures such as the number of codes come from our own dataset.

See the information here as a handy check, and let the details from the recipient or Banco de la Produccion S.A. Produbanco have the final say. GoldexPay is not affiliated with Banco de la Produccion S.A. Produbanco. Should you notice something that is out of date, we welcome a short note.

Verifying the SWIFT code of Banco de la Produccion S.A. Produbanco

The most reliable source for the BIC is the bank details provided by the recipient – an invoice, a statement or a screenshot from online banking. If the code you have does not match PRODECEQ or PRODECEQXXX, do not guess.

If the code is wrong, the transfer might get stuck, bounce back or cost extra, and tracing it can take weeks. A mistake in the IBAN or account number can be a bigger problem, because the money may be credited to someone else.

An automatic check by your bank merely tells you that the IBAN is valid – not that it belongs to the person you mean to pay. More and more banks compare the payee name against the account before you confirm. A small test payment is a sensible step for a large first payment.

Banco de la Produccion S.A. Produbanco: head office code versus branch codes

Our database contains 2 SWIFT/BIC codes for Banco de la Produccion S.A. Produbanco, spread over 2 locations. Next to the head office code PRODECEQXXX, there are codes for individual branches and departments.

Unless the recipient tells you otherwise, go with PRODECEQXXX or its short form PRODECEQ. If you have been given a specific code, stick to it rather than swapping it for the head office code.

Unsure which code applies? Check with the recipient, or look at a recent statement from Banco de la Produccion S.A. Produbanco. Branch codes are more likely to change than PRODECEQXXX when a bank merges or closes offices.

Scams that use SWIFT codes

One of the most common tricks goes like this: an email arrives with a request saying that a company has new bank details and that the next payment should go there. A real SWIFT code says nothing about whether the request is genuine: scammers use real codes of real banks.

Do not trust contact details from the same email that announces the change. Urgency or requests to keep it quiet are warning signs – a real supplier can wait a day. Acted too fast? Contact your bank without delay and ask them to try to recall the payment and report the fraud.

Recipients can be targeted as well: one known trick is an overpayment followed by a request to refund the difference. Wait until the money has really arrived and check with Banco de la Produccion S.A. Produbanco if anything seems off.